For example, marketing manager, nowadays have keep a close eye on international competition which was unheard of before. In the recent years many business suffered from the intense competition provided by Chinese products. So, intelligent market managers do not count out the impact of international dimension on them.
However, according to him, globalization has added a new dimension to the word marketing by increasing the size of target market and increasing competition and giving more awareness to the term holistic marketing. Holistic marketing is about designing your product plan in a way that it does not conflict with any of the social factors or the private aims. Holistic marketing also recognizes the link between the actions of the firm and their interdependencies with the outside environment. As a result, more and more firm are now relying less on production concept and product concept and are giving all their energy and effort into making a better holistic marketing program to achieve success.
In this chapter, the book identifies marketer as the person who is able to influence the demand and timing of demand of consumers through various marketing techniques. This chapter also tells us about how in the recent years more and more companies have come to know that it is marketing that is going to be decisive factor between the failure and success of the business. As a result they are focusing on marketing excellence to secure a coveted position in the market.
What are the functions of a successful marketing manager
After talking about the 21st century economy, this chapter also talks about the duties and functions of the contemporary marketing management. It states that the function of marketing management is not confined to the Four Ps discussed above only but it is also about developing new strategies and gaining insight into the market to connect with customer better. It is also about building strong brand names, shaping the marketing offering and delivering value both to the company and to the consumers. Many businesses in order to remain competitive in the 21st Century economy have reduced their operation or downsized. For example, General motor tried to rescue the business by downsizing its operation and to escape from inevitable bankruptcy.
This chapter rightly points out that marketing manager should be flexible enough and brave enough to take seemingly hard and difficult decision to bring the business out of crisis
Give an example of a brave manager, who rescued the company from an inevitable disaster
In the end, it states that it is imperative for a good marketing manager to have strong communication and interpersonal skills and to have a broad vision for him and the product in charge. For example, Lee Iacocca saved Chrysler from bankruptcy by taking some tough decision like introducing new products and approving a government-backed loan. All marketing manager, therefore, should take a leaf out of Lee Iacocca's feat and should never back down from any challenge.
How is the job of new marketing managers different from the conventional post occupiers
In the second chapter,